For the year ending 2025-12-31, VERX has $1,270,835K in assets. $1,011,915K in debts. $314,009K in cash and cash equivalents.
| Balance Sheets | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 |
|---|---|---|---|---|
| Investment securities available-for-sale, at fair value (amortized cost of 9,147 and 9,550, respectively) | - | 9,157 | 9,545 | 11,173 |
| Cash and cash equivalents | 314,009 | 296,051 | 68,175 | 91,803 |
| Funds held for customers | 24,286 | 30,015 | 20,976 | 14,945 |
| Accounts receivable, net of allowance of 11,466 and 16,838, respectively | 183,446 | 164,432 | 141,752 | 102,885 |
| Prepaid expenses and other current assets | 38,966 | 36,678 | 26,173 | 20,383 |
| Total current assets | 560,707 | 536,333 | 266,621 | 241,189 |
| Property and equipment, net of accumulated depreciation | 209,727 | 177,559 | 100,734 | 115,768 |
| Capitalized software, net of accumulated amortization | 35,480 | 36,350 | 38,771 | 39,012 |
| Goodwill | 392,493 | - | - | - |
| Other intangible assets, net-Other Intangible Assets | 3,513 | - | - | - |
| Goodwill and other intangible assets | 396,006 | 363,021 | - | - |
| Deferred commissions | 31,907 | 27,480 | 21,237 | 15,463 |
| Goodwill and other intangible assets | - | - | 260,238 | 257,023 |
| Deferred income tax asset | 85 | 19 | 41,708 | 30,938 |
| Operating lease right-of-use assets | 9,678 | 11,956 | 14,605 | 17,187 |
| Long-term investment | 15,000 | - | - | - |
| Other assets | 12,245 | 14,073 | 16,013 | 2,612 |
| Total assets | 1,270,835 | 1,166,791 | 759,927 | 719,192 |
| Accounts payable | 37,557 | 36,215 | 23,596 | 14,329 |
| Accrued expenses | 43,642 | 35,169 | 44,735 | 38,234 |
| Customer funds obligations | 21,802 | 27,406 | 17,731 | 12,121 |
| Accrued salaries and benefits | 23,992 | 14,581 | 12,277 | 10,790 |
| Deferred purchase consideration, current | - | - | - | 19,824 |
| Deferred compensation, current | - | - | - | 2,809 |
| Accrued variable compensation | 34,593 | 45,507 | 34,105 | 23,729 |
| Deferred revenue, current | 382,839 | 339,326 | 290,143 | 268,847 |
| Current portion of operating lease liabilities | 4,283 | 3,995 | 3,717 | 4,086 |
| Current portion of long-term debt | - | - | 2,500 | 2,188 |
| Current portion of finance lease liabilities | 55 | 77 | 74 | 103 |
| Purchase commitment and contingent consideration liabilities, current | 25,900 | 35,100 | 11,901 | 6,149 |
| Total current liabilities | 574,663 | 537,376 | 440,779 | 403,209 |
| Deferred revenue, net of current portion | 5,209 | 4,840 | 2,577 | 10,289 |
| Debt, net of current portion | 337,477 | 335,220 | 44,059 | 46,709 |
| Operating lease liabilities, net of current portion | 8,903 | 12,585 | 16,567 | 20,421 |
| Finance lease liabilities, net of current portion | 54 | 10 | 51 | 10 |
| Purchase commitment and contingent consideration liabilities, net of current portion | 79,600 | 87,400 | 2,600 | 8,412 |
| Deferred income tax liabilities | 5,664 | 9,918 | - | - |
| Deferred other liabilities | 345 | 90 | 313 | 417 |
| Total liabilities | 1,011,915 | 987,439 | 506,946 | 489,467 |
| Common stock-Common Class A | 77 | 71 | 61 | 50 |
| Common stock-Common Class B | 82 | 86 | 93 | 100 |
| Treasury stock, at cost 504 and 0 shares, respectively | 10,094 | - | - | - |
| Additional paid in capital | 316,327 | 278,389 | 275,155 | 244,820 |
| Accumulated deficit | -46,104 | -53,315 | -586 | 12,507 |
| Accumulated other comprehensive loss | -1,368 | -45,879 | -21,742 | -27,752 |
| Total stockholders' equity | 258,920 | 179,352 | 252,981 | 229,725 |
| Total liabilities and stockholders' equity | 1,270,835 | 1,166,791 | 759,927 | 719,192 |
Vertex, Inc. (VERX)
Vertex, Inc. (VERX)